BENGALURU: HCL Infosystems , a part of HCL group, won an arbitration case against the UIDAI , securing an award of about Rs 102.8 crore, including interest at 10% per annum until the date of the award and continuing until recovery, the company said in a stock exchange filing on Monday.
The dispute related to unpaid dues and additional costs for managed service provider (MSP) services rendered to UIDAI during the extended contract period from Aug 7, 2019, to Aug 6, 2021. UIDAI's counterclaims, amounting to Rs 72.7 crore, were dismissed by the arbitral tribunal. The company initiated arbitration proceedings seeking recovery of deductions and other costs associated with the services provided to UIDAI. With the final award now in its favour, HCL Infosystems now expects no adverse financial implications beyond the recognised relief.
The dispute related to unpaid dues and additional costs for managed service provider (MSP) services rendered to UIDAI during the extended contract period from Aug 7, 2019, to Aug 6, 2021. UIDAI's counterclaims, amounting to Rs 72.7 crore, were dismissed by the arbitral tribunal. The company initiated arbitration proceedings seeking recovery of deductions and other costs associated with the services provided to UIDAI. With the final award now in its favour, HCL Infosystems now expects no adverse financial implications beyond the recognised relief.
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